AI insiders had already cashed out $7.4 billion before stocks crashed
Photo: Protos
Insiders at publicly traded AI companies personally cashed out $7.4 billion near peak prices from May through October — right on time. An index of the largest AI stocks, the PHLX Semiconductor Sector, has crashed 32% since its October high. Since the start of November, this widely-followed AI index has declined 16% and on Thursday, US-listed stocks shed $3.2 trillion in market capitalization in a single trading session. Meanwhile, the Nasdaq 100 index collapsed 6.4%. Meltdowns were even worse abroad, including a limit-down circuit breaker after South Korea’s KOSPI index crashed 8.5% .
Source: Protos
